Vitalik Buterin, the co-founder of Ethereum (ETH), has spoken expressly on what will play out after Ethereum 1.0 and Ethereum 2.0 are merged. He also spoke about the likely date of The Merge.
Speaking at the World Blockchain Conference hosted by 8BTC in Hangzhou Future Sci-tech City, Buterin shared the estimated date of the much-talked-about chains merge.
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Vitalik Buterin said:
“…upcoming very soon, we have the Altair Hard Fork on the Proof of Stake chain. The London Hard Fork under the existing Proof of Work chain. At some point, maybe about half a year from now may be more, we will get the merge, which is when the Proof of Work chain finishes and everything on the Proof of Work chain gets moved over onto the Proof of Stake chain.”
What Happens After the Merge? Buterin Speaks
According to Vitalik Buterin, as soon as the two chains are successfully merged, the first major thing that follows is the post-merge cleanup fork.
He said the idea of the post-merge cleanup fork is to fix those necessary things that the hard fork that implements the merge did not do. One major example, according to Buterin, is that the merge won’t enable withdrawals.
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Ethereum co-founder stated that those who have stakes in the Proof of Stake system are currently unable to withdraw and won’t be able to withdraw their deposits and rewards after the merge until the post-merge cleanup fork is implemented.
After this first major development comes sharding. He said the major purpose of the sharding is to give more data space to allow Rollups to have enough space for more scalability. He added that data shards are capable of giving Rollup 20 to 50 times more space, which would eventually allow up to 100,000 transactions per second on the Ethereum network in the future.
Ethereum co-founder stated that sharding will be added with a basic level of security at first. But more security will be added subsequently, coupled with more improvements to sharding.
He also spoke about data availability sampling, a technology developed to improve the security of sharding. It basically allows nodes to verify for themselves that the data in the shards has actually been published without nodes needing to download all of the data themselves.
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Buterin said the technology is very important for increasing the security of sharding and making sure that increased scaling and the amount of data being a past rule on a sharded network does not lead to a risk of getting blocks accepted where nobody can access the data, which could end up breaking applications.
Concluding his long speech, Buterin said, “I think over the next 2 or 3 years, we’re going to see it become much cheaper to use Ethereum. And we’re going to see it become more possible for many more kinds of applications to use Ethereum. And the Ethereum ecosystem is going to become a lot more interesting and fun.”
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